Samvardhana Motherson International Ltd. announced a series of acquisitions to strengthen its aerospace, health, and medical businesses on Friday.
The company, via its subsidiary, has entered into an agreement to acquire 100% stake in French company, SSCP Aero Topco SAS.
The board of the company has also approved the acquisition of 73.05% stake in Irillic Pvt., and another 100% stake in Samvardhana Motherson Adsys Tech Ltd. from Motherson Auto Ltd. to make it the company's wholly-owned subsidiary.
“As part of Vision 2025, Motherson is increasing its focus on non-automotive businesses, which are built on the core strength and manufacturing DNA of Motherson,” Vivek Chaand Sehgal, chairman of Motherson Group said.
These acquisitions will serve as catalysts for the health and medical business, which will now have access to global manufacturing and R&D capabilities with new footprints across Europe and India, Sehgal said.
The global manufacturing company has completed four acquisitions in the aerospace business segment—from AD Industries, Cirma, and SMAST in 2023 to CIM Tools in 2022, the statement said.
Shares of Samvardhana Motherson International closed 2.91% lower at Rs 93.4 apiece before the announcement, as compared with a 0.42% decline in the benchmark Nifty 50 on Friday.
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